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Chip Maker ATI Posts Higher Net

Updated June 24, 2004 11:55 a.m. ET

ATI Technologies Inc.,
buoyed by strong sales of computer graphics chips, said net income for its third fiscal quarter more than tripled on a 38% jump in revenue. The Markham, Ontario, graphics-chip maker reported net income of $48.6 million or 19 cents a share for the quarter ended May 31, compared with net income of $15.0 million or six cents a share a year earlier. Revenue was $491.5 million, up from $355.7 million. ATI said based on "market-share momentum" in desktop computer graphics chips and continuing strong sales of PCs, the company currently expects fiscal fourth-quarter revenue in the range of $510 million to $550 million.